Energy Recovery (NASDAQ:ERII) Trading Down 6%

Energy Recovery, Inc. (NASDAQ:ERII) shares fell 6% during mid-day trading on Thursday . The stock traded as low as $14.86 and last traded at $14.88. 150,543 shares changed hands during trading, a decline of 65% from the average session volume of 426,658 shares. The stock had previously closed at $15.83.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ERII. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, July 9th.

Energy Recovery Stock Performance

The stock has a market capitalization of $830.14 million, a P/E ratio of 42.59 and a beta of 1.23. The stock has a 50 day moving average of $15.47 and a 200 day moving average of $14.67.

Insider Transactions at Energy Recovery

In other news, CEO David W. Moon bought 3,000 shares of Energy Recovery stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $16.00 per share, with a total value of $48,000.00. Following the purchase, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at approximately $524,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Energy Recovery news, CEO David W. Moon bought 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $16.00 per share, with a total value of $48,000.00. Following the purchase, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at $524,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Farshad Ghasripoor sold 4,079 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $59,675.77. Following the transaction, the chief technology officer now owns 137,487 shares of the company’s stock, valued at approximately $2,011,434.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,444 shares of company stock worth $123,536. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. acquired a new stake in shares of Energy Recovery in the 2nd quarter worth approximately $26,000. Sentry Investment Management LLC raised its holdings in Energy Recovery by 23.2% during the first quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,438 shares in the last quarter. AXA S.A. acquired a new stake in Energy Recovery in the second quarter worth approximately $149,000. ProShare Advisors LLC bought a new position in Energy Recovery during the 1st quarter valued at $158,000. Finally, AQR Capital Management LLC increased its position in shares of Energy Recovery by 19.8% during the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 1,986 shares during the period. Institutional investors own 83.58% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.